Philippine's BSP pension fund contracts Eastspring
This marks the first time the central bank's provident fund has mandated a foreign asset manager to run a portfolio, in this case for domestic equities.
The Philippine central bank's pension fund has contracted Eastspring Investments to run a domestic equities portfolio, making the funds arm of UK insurer Prudential the first foreign manager to run money for the state investor.
Eastspring's fund, a Luxembourg-domiciled open-ended strategy, is focused on Philippine equities and managed by Wing Kin Chow out of Singapore. The size of the mandate was not specified, but is likely to be $50 million or less, given that it is being put i…
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